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>> just on the defense sector alone, you're looking at $55 billion in cuts just to the defense budget. you have to look at the ancillary part of this. you look at real estate holdings, homes that are have a close proximity to defense. >> final question for you, todd, a major confusion going on here, it's about this so-called $250,000 there are hold for house holds, does this mean that all of the first $250,000 that you make is taxed at a higher rate, or just the money above $250,000? >> it's actually your taxable income. according to irs data, you will actually see that people that are earning $250,000 actually are itemizing up to $20,000. so in other words it's your net amount after those tax deductions, once you start getting into more tax deductions, once you're earning more, you actually expect that the number will go higher than 250,000 dlrks, some exists are predicting the number is going to be upwards of $300,000. so if you're making up to 300,000 and below, there's a good chance none of these taxes are going to impact you. >>> a popular mexican-american singer is missing, she
>> just on the defense sector alone, you're looking at $55 billion in cuts just to the defense budget. you have to look at the ancillary part of this. you look at real estate holdings, homes that are have a close proximity to defense. >> final question for you, todd, a major confusion going on here, it's about this so-called $250,000 there are hold for house holds, does this mean that all of the first $250,000 that you make is taxed at a higher rate, or just the money above...
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. >> reporter: just a couple miles in the pentagon, many of the people here work directly for the defense department and it's contractors. the defense industry is facing $125 billion of direct -- in addition several key tax ben fis are scheduled to expire at the end of the year that will have a direct impact on the pocket books of many americans. take a couple with one child in new york earning $100,000. their tax rate jumps from 25% to 28%. they could be hit by the alternative minimum tax. the child tax credit drops from $1,000 to $500 and payroll taxes could be $2,000 more next year. for a single 25-year-old in michigan who works full-time earning $30,000 a year going to school part-time, his tax rate would stay the same at 15%. but he would lose the american education tax credit and have to pay more than $600 in payroll taxes. and even though it's weeks before the changes would take effect the impact is already being felt because of uncertainty. 401(k) plans are taking a hit. companies are putting freezes on hiring. and the retail sector which makes most of its money in the final weeks
. >> reporter: just a couple miles in the pentagon, many of the people here work directly for the defense department and it's contractors. the defense industry is facing $125 billion of direct -- in addition several key tax ben fis are scheduled to expire at the end of the year that will have a direct impact on the pocket books of many americans. take a couple with one child in new york earning $100,000. their tax rate jumps from 25% to 28%. they could be hit by the alternative minimum...
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all of this came hours after defense secretary leon panetta left the area. still not clear whether the attack was linked to his visit. erin burnett is walking with the secretary of defense hours before the attack. he talked about al qaeda. >> it was to defeat and disrupt and destroy. is that mission accomplished? >> the mission of defeating and deterring al qaeda i think is well on the way towards achieving the mission with regards to afghanistan. the threat we face here. we continue to face a threat elsewhere not only in pakistan, but yemen and elsewhere. we have had success against al qaeda here. i think the main challenge here is obviously to make sure there is no safe haven and the key is to secure and govern itself. those two are interlocked in terms of a mission that we have in afghanistan. >> you can hear much more from the defense secretary on erin burnett out front tonight on cnn. a satellite launched tuesday by north korea may not be in a stable orbit. north korea may not be in total control of the satellite and it's on this polar orbit at a relati
all of this came hours after defense secretary leon panetta left the area. still not clear whether the attack was linked to his visit. erin burnett is walking with the secretary of defense hours before the attack. he talked about al qaeda. >> it was to defeat and disrupt and destroy. is that mission accomplished? >> the mission of defeating and deterring al qaeda i think is well on the way towards achieving the mission with regards to afghanistan. the threat we face here. we...
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defense secretary leon panetta is is in afghanistan today. he met with u.s. and afghan troops and commanders in kandahar to talk about the future of the protection force there. panetta told cnn the mission is fundamentally unchanged since it began more than ten years ago. target al qaeda everywhere. >> the mission of defeating and deterring al qaeda, i think, is well on the way towards, you know, achieving the mission with regards to afghanistan and the threat that we face here. we continue to face al qaeda, obviously, elsewhere not only in pakistan but in yemen and somalia and elsewhere. but, you know, we have had remarkable success going after special operations against al qaeda here, and we're continuing to do that. i think the main challenge here is obviously to make sure there's no safe haven for al qaeda in which to conduct aattaattac attacks but the key is afghanistan can govern itself. those two are enter locked in terms of the mission we have in afghanistan. >> hear more from secretary of defense on erin burnett "outfront" tonight at 7:00 eastern. >>
defense secretary leon panetta is is in afghanistan today. he met with u.s. and afghan troops and commanders in kandahar to talk about the future of the protection force there. panetta told cnn the mission is fundamentally unchanged since it began more than ten years ago. target al qaeda everywhere. >> the mission of defeating and deterring al qaeda, i think, is well on the way towards, you know, achieving the mission with regards to afghanistan and the threat that we face here. we...
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the last thing i want to see is cuts in defense, anything at all that negatively affects the defense of this country, anything at all that negatively affects the lives of servicemen and servicewoman, those are bad things. i'm happy to write a check for more money. i don't like it. but i'm getting old anyway. i would rather give it to the government than leave it to -- than leave it to government, give it to them right now. >> you'll write the check, maybe semipainfully, but i'll write it nonetheless. >> i'll do it. >> europe's biggest bank, you heard about this, hsbc agreed to pony up close to $2 billion to settle accusations of money laundering. the senate banking committee they found that hsbc in mexico shipped $7 billion in cash, mind you, across the border, maybe turned a blind eye to where the money came from, want you to listen to neil barofsky, we had him on the show yesterday, and i asked him whether top bank officials knew they were handling drug money there. >> the notion that this wasn't something that was known on senior levels of the banks, at least they had plenty of re
the last thing i want to see is cuts in defense, anything at all that negatively affects the defense of this country, anything at all that negatively affects the lives of servicemen and servicewoman, those are bad things. i'm happy to write a check for more money. i don't like it. but i'm getting old anyway. i would rather give it to the government than leave it to -- than leave it to government, give it to them right now. >> you'll write the check, maybe semipainfully, but i'll write it...
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but the defense of marriage act is under review, will be under review by the high court. what we heard yesterday is probably not until march. at least they have agreed to hear it. that's hopeful. >> all right. 35 years together and married. congratulations. we appreciate your time. >>> some critics say the environmental protection agency should go away. we talk to the head lisa jackson. that interview is up next. >> we should regulate smartly and shouldn't be on pressive. we should be smart about it, but we shouldn't go away. [ male announcer ] you are a business pro. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. yes, it is. it's part of what you slove about her.essing. but your erectile dysfunction - you know, that could be a question of blood flow. cialis tadalafil for daily
but the defense of marriage act is under review, will be under review by the high court. what we heard yesterday is probably not until march. at least they have agreed to hear it. that's hopeful. >> all right. 35 years together and married. congratulations. we appreciate your time. >>> some critics say the environmental protection agency should go away. we talk to the head lisa jackson. that interview is up next. >> we should regulate smartly and shouldn't be on pressive....
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will a defensive player ever win the heisman? >> either way, it would have been historic. freshman or first defensive player. >> right, is it for the mvp on offense in college football? >> if he doesn't win, who does? >> yeah, but he's exciting and only freshman and congratulations to johnny manziel. >> let's talk manny pacquiao found himself in unfamiliar territory on the mat in las vegas. an incredible fight. knocked out by mar qwest. with him as ring side though, another guy who knows about getting knocked out. >> yeah, he lost the biggest fight of his life in november. mitt romney was tr with his wife before the fight. before the fight, wished pacquiao well. after a furious fifth round, manuel was knocked down. it was kind of funny. according to reports, romney went up to pacquiao and said hello, manny, i ran for president, i lost. i don't think romney's loss left a mark. this one might for pacquiao who had a broken nose. loses his second straight fight. many are wondering if this is the end or if there's a rematch offering a fifth possible fight. >> so much build up t
will a defensive player ever win the heisman? >> either way, it would have been historic. freshman or first defensive player. >> right, is it for the mvp on offense in college football? >> if he doesn't win, who does? >> yeah, but he's exciting and only freshman and congratulations to johnny manziel. >> let's talk manny pacquiao found himself in unfamiliar territory on the mat in las vegas. an incredible fight. knocked out by mar qwest. with him as ring side...
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the north american air defense space said it put an object into orbit. north korea says it's a scientific satellite, but the u.s. believes the launch is a cover for testing ballistic missile technology. a senior administration official says the u.s. will wush for a u.n. security council resolution condemning the loss as well as possible sanctions. members began meeting behind closed doors about an hour ago. joining us is former new mexico governor bill richardson. gooz to see you. you're a former u.n. ambassador to the. does it concern you? >> it does concern me. my hope was that the new leader in north korea, kim jong-un, would pick a different path than his father, that he would be more moderate. i think still there's possibilities of dialogue. i'm not sure when. i think he did this for domestic reasons. the last missile launch failed. he only has one year in leadership. he wants to show his people that despite their economic problems, they have military and missile technolo technology, that they're a major power in space, militarilmilita buttress them
the north american air defense space said it put an object into orbit. north korea says it's a scientific satellite, but the u.s. believes the launch is a cover for testing ballistic missile technology. a senior administration official says the u.s. will wush for a u.n. security council resolution condemning the loss as well as possible sanctions. members began meeting behind closed doors about an hour ago. joining us is former new mexico governor bill richardson. gooz to see you. you're a...
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criminal defense attorney anne bremner joins me. this is one of those stories where we're talking abo it this morning and everybody's jaw is on the floor, the affiliate here in portland, k2, they had a loaded handgun, ran from police, were handed over to their parents. i know they're i want to say itty-bitty but apparently not so much, can you not charge them? >> it is an astonishing story. my jaw is dropping right here. you think, portland? these kids? the gun and the bullets and everything else. but they can't -- they're too young. they're so young, it is an astonishing story, but too young to charge. because they don't have the capacity to commit a crime. they don't have the requisite knowledge about their criminality, potential crimin criminality to commit a crime. so they don't go to juvie. they go to their parents. where are they going next? who knows. >> they go home to their parents, you hope their parents punish them. there is no recourse? >> that's right. at least in the criminal laws. now, under the civil laws, the parent
criminal defense attorney anne bremner joins me. this is one of those stories where we're talking abo it this morning and everybody's jaw is on the floor, the affiliate here in portland, k2, they had a loaded handgun, ran from police, were handed over to their parents. i know they're i want to say itty-bitty but apparently not so much, can you not charge them? >> it is an astonishing story. my jaw is dropping right here. you think, portland? these kids? the gun and the bullets and...